Dollar: opening price today, January 29 in Canada

The foreign exchange market in Canada is dominated by the US dollar. (Infobae)

He American dollar is paid at the start of sessions 1.34 Canadian dollars on averagewhich represented a change of 0.03% compared to the 1.35 Canadian dollars of the previous day.

In reference to the profitability of the last seven days, the American dollar accumulates a decrease in 0.23%so that in the last year it still maintains a drop in 0.07%.

In relation to the variations of this day with respect to past days, it chains three consecutive dates in decline. In reference to the volatility of the last week, it presents a behavior lower than the volatility reflected in the data of the last year, presenting itself as a value with fewer changes than expected in recent dates.

He Canadian dollar It is the official monetary unit in Canada, it is represented by the acronym CAD and is subdivided into 100 cents.

It should be noted that the Canadian dollar has been used almost throughout the country’s history, after it replaced the British pound sterling, the Spanish dollar and the peso.

It was on July 1, 1858 when the authorities ordered the creation of the first Canadian dollars, which were adopted to a decimal system in the following years. However, it was not until 1871 that monetary unification was approved of all Canadian provinces to use the dollar, finally abolishing the gold standard in 1933.

Currently the Canadian coins of 1, 5, 10 and 25 are used cents, 1 and 2 dollars, which are issued by the Royal Canadian Mint; On the other hand, the 5, 10, 20, 50, 100 and 1,000 dollar bills are issued by the Bank of Canada and are produced in Ottawa.

Regarding the economy, recently the Organization for Economic Cooperation and Development (OECD) confirmed that Canada has passed its tipping point and is heading towards a period of moderate growth, after the hard blow represented by the SARS-CoV-2 pandemic.

On the other hand, Canada also managed to position itself as the United States’ main trading partner at the end of 2021, with a 14.5% share of the nation’s 15 main partners.

He International Monetary Fund (IMF) predicts that Canada will grow by 4.1% in 2022 and by 2023 by 2.8%, which would mean a slowdown after the 4.7 reached in 2021.

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